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International Monetary Fund

The Fund shall cooperate within the terms of this Agreement with any general international organization and with public international organizations having specialized responsibilities in related fields. Any arrangements for such cooperation which would involve a modification of any provision of this Agreement may be effected only after amendment to this Agreement under Article XXVIII.

International Monetary Fund

The Fund shall cooperate within the terms of this Agreement with any general international organization and with public international organizations having specialized responsibilities in related fields. Any arrangements for such cooperation which would involve a modification of any provision of this Agreement may be effected only after amendment to this Agreement under Article XXVIII .

International Monetary Fund

The Fund shall cooperate within the terms of this Agreement with any general international organization and with public international organizations having specialized responsibilities in related fields. Any arrangements for such cooperation which would involve a modification of any provision of this Agreement may be effected only after amendment to this Agreement under Article XXVIII.

International Monetary Fund

The Fund shall cooperate within the terms of this Agreement with any general international organization and with public international organizations having specialized responsibilities in related fields. Any arrangements for such cooperation which would involve a modification of any provision of this Agreement may be effected only after amendment to this Agreement under Article XXVIII .

International Monetary Fund

The Fund shall cooperate within the terms of this Agreement with any general international organization and with public international organizations having specialized responsibilities in related fields. Any arrangements for such cooperation which would involve a modification of any provision of this Agreement may be effected only after amendment to this Agreement under Article XXVIII .

International Monetary Fund

Abstract

This paper discusses the Second Amendment of the IMF’s Articles of Agreement. The drafting of the Second Amendment of the Articles of Agreement was a more prolonged and more complicated task than the preparation of the First Amendment. One characteristic of the Second Amendment is the transformation into law, by incorporation in the Articles, of policies that the IMF had adopted over the years. The provisions of the Second Amendment that deal with repurchase obligations, the selection of currencies for use in purchases and repurchases, and stand-by arrangements are among the many examples that are sometimes referred to as constituting the modernization of the IMF.

International Monetary Fund

Abstract

The Articles of Agreement of the International Monetary Fund were adopted at the United Nations Monetary and Financial Conference (Bretton Woods, New Hampshire) on July 22, 1944. They were originally accepted by 29 countries and since then have been signed and ratified by a total of 189 Member countries. As the charter of the organization, the Articles lay out the Fund’s purposes, which include the promotion of “international monetary cooperation through a permanent institution which provides the machinery for consultation and collaboration on international monetary problems”. The Articles also establish the mandate of the Organization and its members’ rights and obligations, its governance structure and roles of its organs, and lays out various rules of operations including those related to the conduct of its operations and transactions regarding the Special Drawing Rights. The key functions of the IMF are the surveillance of the international monetary system and the monitoring of members’ economic and financial policies, the provision of Fund resources to member countries in need, and the delivery of technical assistance and financial services. Since their adoption in 1944, the Articles of Agreement have been amended seven times, with the latest amendment adopted on December 15, 2010 (effective January 26, 2016). The Articles are complemented by the By-laws of the Fund adopted by the Board of Governors, themselves being supplemented by the Rules and Regulations adopted by the Executive Board.

WILLIAM E. HOLDER

, with explicitly conferred legal personality (“full juridical personality” in the case of the Fund, “such legal capacity as may be necessary” in the case of the UN). 2 Accordingly, each can enter into agreements with other subjects of international law. Agreements inter se , however, are contemplated by the respective charters. First, by Article X of the Fund’s Articles, the Fund is to cooperate “with any general international organization,” as well as with public international organizations with related fields of specialized responsibilities. Two qualifications

Parmeshwar Ramlogan and Mr. Bernhard Fritz-Krockow

progress under the WTO’s Doha round of trade talks (TIM is discussed in Chapter 5 ). The collaboration of the IMF and the WTO was formalized in an agreement shortly after the creation of the WTO in 1996. 129 Article X of the IMF’s Articles of Agreement calls for the IMF to cooperate with any general international organization and with public international organizations having specialized responsibility in related fields, while Article III.5 of the Marrakesh Agreement Establishing the World Trade Organization specifically calls for the WTO to cooperate with the

International Monetary Fund

Marrakesh Agreement for greater coherence among economic policies internationally; RECOGNIZING the close collaborative relationship existing over the past several decades between the Fund and the CONTRACTING PARTIES to the General Agreement on Tariffs and Trade, and the importance of continuing and strengthening such a relationship between the Fund and the WTO; HAVING REGARD to Article X of the Fund’s Articles of Agreement, which provides that “the Fund shall cooperate within the terms of this Agreement with any general international organization and with public